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RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
Related Party Transactions [Abstract] |
Schedule of related party transactions | A summary of receivables due from related parties as of December 31, 2023 and 2022 is as follows:
(in thousands of $) |  | 2023 |  | 2022
Seatankers Management Norway AS |  | — |  |  | 16 |
Paratus Management (UK) Limited |  | 8 |  |  | — |
Seatankers Services (UK) LLP |  | 9 |  |  | — |
Frontline Cyprus Ltd |  | 8 |  |  | — |
Frontline Management (Bermuda) Limited |  | 510 |  |  | — |
Northern Ocean Limited |  | — |  |  | 33 |
Avance Gas Trading Ltd |  | 232 |  |  | 2 |
Sloane Square Capital Holdings Ltd |  | 19 |  |  | 9 |
Receivables due from related parties |  | 786 |  |  | 60 |
A summary of payables due to related parties as of December 31, 2023 and 2022 is as follows:
(in thousands of $) |  | 2023 |  | 2022
Frontline Management (Bermuda) Limited |  | — |  |  | (30) |
Frontline Corporate Services Ltd |  | (26) |  |  | (4) |
Flex LNG Fleet Management AS |  | (358) |  |  | (293) |
SFL Corporation Ltd |  | — |  |  | (1) |
Payables due to related parties |  | (384) |  |  | (328) |
A summary of expenses recorded from related parties for the years ended December 31, 2023, 2022, and 2021 are as follows:
(in thousands of $) |  | 2023 |  | 2022 |  | 2021
Administration service fees |  |  |  |  |  |
Seatankers Management Co. Ltd |  | (115) |  |  | (225) |  |  | (144) |
Front Ocean Management AS |  | (400) |  |  | (226) |  |  | (55) |
Frontline Management (Bermuda) Limited |  | (128) |  |  | (272) |  |  | (288) |
Front Ocean Management Ltd |  | (257) |  |  | (258) |  |  | — |
Golden Ocean Management AS |  | — |  |  | — |  |  | (1) |
Technical management fees |  |  |  |  |  |
Flex LNG Fleet Management AS |  | (3,435) |  |  | (3,489) |  |  | (3,235) |
Office facilities |  |  |  |  |  |
Seatankers Management Norway AS |  | (85) |  |  | (58) |  |  | (59) |
Frontline plc |  | — |  |  | — |  |  | (2) |
Frontline Management AS |  | — |  |  | — |  |  | (184) |
Chartering services fees |  |  |  |  |  |
FS Maritime SARL |  | — |  |  | (32) |  |  | (337) |
Total related party transactions |  | (4,420) |  |  | (4,560) |  |  | (4,305) |
A summary of income recorded from related parties for the years ended December 31, 2023, 2022, and 2021 are as follows:
(in thousands of $) |  | 2023 |  | 2022 |  | 2021
Frontline Management AS |  | — |  |  | 10 |  |  | — |
Northern Ocean Limited |  | — |  |  | 6 |  |  | 7 |
Avance Gas Holdings Ltd |  | 293 |  |  | 4 |  |  | — |
Sloane Square Capital Holdings Ltd |  | 9 |  |  | 8 |  |  | — |
Paratus Management (UK) Limited |  | 5 |  |  | — |  |  | — |
Seatankers Services (UK) LLP |  | 4 |  |  | — |  |  | — |
Total related party transactions |  | 311 |  |  | 28 |  |  | 7 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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